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re: Dividend stocks and DRIPs as a long term investment vehicle
Posted on 6/24/13 at 9:03 am to ThaBigFella
Posted on 6/24/13 at 9:03 am to ThaBigFella
quote:
If you bought $1000 of coke in 1969 at 21 years old and added $200/month for the next 44 years you would be worth over $5.1M today
That's a little bit of a problem with your youth, though, Big Fella - $200 was a $hit ton of money in the 70s.
Minimum wage was under $2 an hour in the 70s and didn't top $3 until 1980 - heck, I'm only 45 and I worked for $3.35 an hour. I kick myself for not socking away $25 a paycheck, subsidized by the company, for WM when I was an employee, but I barely cleared $400 a month in 1985.
2
Posted on 6/24/13 at 9:05 am to Ace Midnight
quote:Yea I was gonna point this out. But you could probably afford much more than $200/month nowdays so it might work out?
That's a little bit of a problem with your youth, though, Big Fella - $200 was a $hit ton of money in the 70s.
Posted on 6/24/13 at 9:06 am to Ace Midnight
I get that it was a lot my dad told me he came to the us in 1971 and made $1.60. Im almost 35, im not a kid haha.All I'm trying to say is people can make millions over time. A 44 year career is a long time to allow money to grow, i dont even wanna imagine fees of 44 year etf ownership.I had a friend in college who grandma died in Iowa with like $13m in coke stock.
This post was edited on 6/24/13 at 9:07 am
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